Further strong corporate earnings releases lifted US equity markets albeit the gains were capped by ongoing US-China trade tensions (with China’s Global Times newspaper said Beijing is ready to dig in for a “protracted war” with the US over trade) - Dow up +40-points or +0.16% The broader S&P500 +0.35% (to 2,850.40), with Consumer Discretionary (up +0.67%) and Information Technology (+0.59%) leading nine of the eleven primary sectors into positive territory. The index is back within touching distance (0.8%) of its record intra-day and closing high set back on 26 January (2,872.87) The NASDAQ +0.61% to log its fifth consecutive session rise. Facebook Inc gained +4.5% following news that the company is forging deeper relationships with banks to offer customer-service products. Bemis Company Inc fell -0.9% in a subdued response to news that Amcor Ltd (AMC.ASX) is to acquire the company in a US$6.8B all scrip deal (i.e. 5.1 AMC shares for each Bemis Co. Inc share). Bemis Co shares jumped ~11% last Friday (3 August) when the Wall Street Journal speculated about a possible deal.
